Logan Paul Scandal: WWE Star’s $2,300,000 NFT Refund for Botched CryptoZoo Game Sees Additional Criticism

WWE celebrity Logan Paul has announced a buyback program for CryptoZoo on Twitter. The program aims to compensate those who invested in his Cryptozoo game project in 2021 and lost their money. The YouTuber is fulfilling his promise from 2023 by buying back the Base Egg and Base Animal NFTs at their original price.

In his post, The Maverick claimed he never profited from the CryptoZoo project and will commit over $2.3 million to the buyback program. He also explained why the game project failed and mentioned filing a lawsuit in federal court in Texas.

Logan Paul vows to give back $2.3 million CryptoZoo refund

YouTuber-turned-wrestler Logan Paul has been involved in several scandals since he became a public figure. However, he is now doing the right thing by paying back victims involved in a scam that had his name attached to it.

Previously, Logan Paul was called out for his involvement in the CryptoZoo scandal, where investors did not receive their money. However, he is now giving a refund of the mint price, which is a step in the right direction. Although it took a long time, Logan is trying his best to rectify the situation.

Logan is paying back the victims of the CryptoZoo scam. However, the price of Ethereum has gone down, so we’ll see how much he actually pays. The Prime company is also under a negative spotlight from the FDA.

Logan Paul has posted a detailed message on Twitter to inform the victims of the CryptoZoo scam that he will be paying them back today. He has provided clear instructions for the victims to follow to get their money back.

“Today, I am incredibly happy to announce that I am delivering on my promise to buy back Base Egg and Base Animal CryptoZoo NFTs for their original purchase price. This buy-back program is being carried out at http://EGGNFTBUYBACK.COM.”

“Claims can be submitted through this site through February 8. I approached the CryptoZoo project like everything else I am passionate about—with only the best possible intentions and success for everyone who shared our vision. I never made a single penny from the project, period. The opposite is true because I spent hundreds of thousands of dollars trying to make it happen. With this buy-back program, I am personally committing more than $2.3 million to buy back Base Eggs and Base Animals from every person who intends to play CryptoZoo. Like you, I was highly disappointed that the game was not delivered.”

“As I said a year ago, CryptoZoo was derailed by bad actors. Bad actors who DID steal money and who betrayed our team while internally sabotaging the game. This has now been confirmed by an extensive investigation that has involved forensic analysis of blockchain activity and the review of thousands of communications. With this evidence in mind, I have filed a lawsuit in federal court in Texas today to hold these bad actors accountable. The 25-page lawsuit is public, and it can be found here: https://drive.google.com/file/d/1bu0WMbW3co-HlXq-HlXbLdpAOZSzJKmf/view?usp=sharing.”

“This lawsuit is not based just on snippets of conversations taken out of context. This lawsuit is the result of an exhaustive investigation that included a review of the entirety of conversations and tracking nefarious trading activity related to the project. Nefarious trading activity is taken behind our backs, without our knowledge, and to defraud us all. As far as the game itself, unfortunately, it will not be released.”

“I spent $400,000 to have it developed, and after its completion in early 2023 & some further diligence, unfortunately, there are too many regulatory hurdles that would need to be cleared that I did not originally understand and would ultimately delay this buy-back even further. This buy-back is a way for me to make those who intended to play CryptoZoo whole.”

“The buy-back is not intended to compensate those who gambled on the crypto market and lost. It’s important to remember that the Zoo Token was created to support the CryptoZoo game and its players; it was “not intended as an investment vehicle,” as outlined in the original WhitePaper. This solution has been anything but simple, so I want to thank everyone for their patience as we figured out the logistics of making sure the first-ever NFT buy-back is a smooth process: http://EGGNFTBUYBACK.COM,” wrote Logan Paul in his tweet.

Coffeezilla points out key issues with Logan Paul’s refund process

Coffeezilla, a well-known investigative YouTuber, recently shared his thoughts on Logan Paul’s latest CryptoZoo project update. For context, Logan had been silent for a year until he announced the start of a buyback program on February 8, 2024. This program allows users who have incurred losses in the NFT project to reclaim their funds.

Logan has introduced a buyback program, which is a positive step, but there are still some unclear aspects that need to be clarified. Additionally, he is currently facing a lawsuit that is affecting the overall situation.

In response to the latest update, Coffeezilla, the YouTuber, who first exposed the supposed scam, showcased his plan to create a video addressing the situation, and it became an instant favorite of the victims of the scam.

“I’m super happy some of the victims will get refunded 1 year later. But let’s not pretend there aren’t ulterior motives. Logan is being crushed in a lawsuit right now. As usual, he’s trying to save his skin,” wrote Coffeezilla.

What is your opinion on Logan Paul reimbursing the victims of the CryptoZoo scam? Let us know your thoughts in the comments below!